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【篇一：国际会计第七版英文版课后答案(第六章)】

discussionquestionssolutions

1.foreigncurrencytranslationistheprocessofrestatinga

foreignaccountbalancefromonecurrencytoanother.

foreigncurrencyconversionistheprocessofphysically

exchangingonecurrencyforanother.

2.intheforeignexchangespotmarket,currenciesbought

andsoldmustbedeliveredimmediately,normallywithin2

businessdays.thusasingaporeantouristbuyingu.s.dollars

attheairportbeforeboardingaplanefornewyorkwouldhand

oversingaporedollarsandimmediatelyreceivetheequivalent

amountinu.s.dollars.theforwardmarkethandles

agreementstoexchangeafixedamountofonecurrencyfor

anotheronanagreeddateinthefuture.for

example,afrenchmanufacturerexportinggoodsinvoicedin

eurostoajapaneseimporteron60-daycredittermswould

buyaforwardcontracttosellyenforeuros2monthsinthe

future.transactionsintheswapmarketinvolvethe

simultaneouspurchase(orsale)ofonecurrencyinthespot

marketandthesale(orpurchase)ofthesamecurrencyinthe

forwardmarket.thus,acanadianinvestorwishingtotake

advantageofhigherinterestrateson6-monthtreasurybills

intheunitedstateswouldbuyu.s.dollarswithcanadiandollars

inthespotmarketandinvestintheunitedstates.toguard

againstafallinthevalueoftheu.s.dollarbeforematurity

(whentheu.s.dollarproceedsareconvertedbacktocanadian

dollars),thecanadianinvestorwouldsimultaneouslyenterinto

aforwardcontracttosellu.s.dollarsforcanadiandollars6

monthsinthefutureattodaysforwardexchangerate.

3.thequestionreferstoalternativeexchangeratesthatare

usedtotranslateforeignfinancialstatements.thecurrentrate

istheexchangerateatth